OCC, the world's largest equity derivatives clearing organization, today congratulated MIAX on the launch of MIAX PEARL, which began operations on Monday. This successful launch brings the total number of U.S. options markets to fifteen.
"OCC congratulates the Miami International Securities Exchange on the successful launch of MIAX PEARL," said Craig Donohue, OCC Executive Chairman and CEO. "We are pleased to provide central counterparty clearing and settlement services to our newest participant exchange. As a Systemically Important Financial Market Utility and the foundation for secure markets, we look forward to the continued success of MIAX PEARL and the continued growth of the U.S. exchange-traded options industry."
With the addition of MIAX PEARL, OCC provides central counterparty clearing and settlement services to 20 exchanges and trading platforms for options, security futures, financial and commodity futures, and securities lending transactions. In 2016, OCC cleared volume was 4.17 billion contracts, its fifth-highest annual total ever.